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Mirae Asset Global Investments to set up Vietnam JV

Mirae Asset Global Investments Co. Ltd. plans to team up with Vietnam's State Capital Investment Corp. to establish a joint venture, The Chosun Ilbo reported.

The company will first acquire 100% of Vietnamese asset management entity Tin Phat Management Fund Joint Stock Co. It will then raise the unit's capital before selling a 30% stake in the entity to SCIC Investment Corp., a subsidiary of State Capital Investment.

Through the joint venture, Mirae Asset Global Investments aims to develop alternative investment products in Southeast Asia in sectors including infrastructure, real estate and private equity.